Democrat “economist” appears on CNBC and cliams Trump caused 8 trillion bucks of the 35 trillion bucks in national debt – BIG FAT LIAR!!!!! 2 trillion bucks out -ignores C19 and debt interest entirely
Jordan Schachtel continues his excellent coverage of major stories here to highlight this interview:
Which as this embedded link to a 7:30 minute interview with Bharat Ramamurt
Bharat Ramamurt thinks that the US government is not raising enough money in taxes and is especially targeting 60,000 Americans earning more than 1 million bucks a year with a 24% capital gains tax. You know how socialists hate anyone with money or who earns it. I wonder if he knows how many of these are Democratic Party donors?
He also states that discretionary spending, excluding defence, is at a very low level of 16% and uses this as an argument for tax increases. He claims that plans to increase taxes will not impact 100 million Americans – so presumably it will impact 240 million other Americans.
One big fat lie he brazenly told was that under Trump, 8 trillion of the US’ 35 trillion national debt was raised during Trump’s term. So, let’s fact check that.
From here:
U.S. Budget Deficit by Year (thebalancemoney.com)
Budget Deficit by Year Since 1929
Check out his claim that out of 51 million jobs created, 50 million jobs were crated under Democratic Party presidents!!!!! Outrageous and bogus claim. No source cited because, just like all Democrats, he can just “make shit up”.
During the first three Trump years, the deficits totalled 1.74 trillion bucks, and debt increased by 3.15 trillion bucks. Better minds than mine will be able to explain that 1.4 trillion-dollar gap.
C19 was the first year of the C19 scamdemic, the last year f Trump’s presidency and the floodgates opened. The fiscal deficit for 2020 was, coincidentally the same as the sum of Trump’s prior three years in office.
I am simplifying things here because fiscal years run to 30 September, not calendar years.
Regardless, the total under Trump was 5 trillion or so, not the 8 trillion claimed by the “big fat liar”, and that is including the 2020 scam year.
His claim of 8 trillion under Trump is TWO TRILLION DOLLARS OUT!!!
And this is one of the casual advisors to “Knee pad” Harris.
Trump’s 2019 budget had forecast a deficit for 2020 of 1.1 trillion bucks instead of 3.1 trillion C19 year outcome, so in 2020 alone C19 cost 2 trillion bucks in spending and lost revenue.
The C19 impact in fiscal year lasted for around 6 months from March to September.
Is the big fat liar saying that Trump caused C19???
The fiscal deficit for the year ended 30 September 2024 is heading for 1,5 trillion bucks.
What is important is to compare 2019 to 2023 and 2024 – each of which exclude most of the scam of C19 federal spending.
Inflation from December 2018 to July 2024 was around 33%, so you might inflate Trump’s 2019 deficit of a trillion bucks by that much to come up with 1.3 trillion bucks. Instead, we have a deficit of almost half a trillion bucks more ad that is with tax increases already imposed by Biden.
I took a more granular look at Presidential budgets here:
Note the complete lack of interest (sic) in the interest bill on 35 trillion bucks of national debt – which works out at around 1.4 trillion a year and rising. Anyone would think it just didn’t matter. Th only way this bill will stabilize and diminish is id there is fiscal balance between taxes and spending AND fiscal surpluses to reduce that bill – which is already around 40% higher than the entire Pentagon budget!
Onwards!!!
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Pretty standard with communists. The only ones expected to economize are the taxpayers. This Ramamurti has reportedly never held a real job, but he can advise on raising taxes? He has never run a business, but he can give Kamalala advice. Thugs in govt will keep taking until it's all gone if they're allowed. They're never satisfied.